I have seen a few wanna be basements here built on the side of a hill. They are still mostly above ground, more of a split level home. They tend to stay damp with the odors that go with that.Ours is often damp. We could dry it out by running a dehumidifier for about 5+ months a year, but that gets pricey. I run it at times in the most humid parts of the summer.
This is the year we're going to get all the junk/crap out of the basement and make it useable space. (It could happen...) Hubby built a darkroom down there, and is having a lot of fun printing B&W 4x5 negatives.
Basements can be life savers in case of tornados and other high wind events.
There is something called a "Michigan basement." They can be gross, and are the reason there are companies that specialize in making them into useable space, or at least sealing them so that they aren't gross.
https://www.ecotelligenthomes.com/what-is-a-michigan-basement/
Water table is so high here. For example, I had to bury an old dog that passed. DH was working and I did not want to wait. I was upset, she had been my baby for 18 years. I dug and dug, crying. Before I realized I was so deep I had to stand in the hole. Looked down, water was trickling into the hole.
Best we can do for a tornado is a bathroom in the center of home with no outside wall. That was a requirement of ours when we chose plans.